Quad/Graphics to buy Canadian printing business World Color Press
By APTuesday, January 26, 2010
Quad/Graphics to buy Canadian printing rival
TORONTO — The U.S. commercial printing company Quad/Graphics Inc. plans to buy its Canadian rival World Color Press Inc., which prints magazines such as Sports Illustrated and Rolling Stone.
Quad/Graphics Inc., which is based in Sussex, Wis., is the largest privately held printer in the U.S. but plans to go public in connection with the takeover. The combined company will have 30,000 employees. World Color is based in Montreal.
An estimated value of the overall transaction wasn’t released by the companies on Tuesday.
World Color shareholders will receive shares of Quad/Graphics and end up with 40 percent ownership of the combined business. Each share of World Color will be converted into a number of class A common shares of Quad/Graphics at a ratio that has yet to be determined.
The transaction is expected to close in the summer.
